Released: 26 February 2021
February Sales Managers Survey Shows Global Growth Still Fragile
The February Sales Managers Index data relating to economic growth (the Confidence, Market and Sales related indexes) all disappointed in February.
All three fell back from the encouraging levels seen in January, when Business Confidence rose to a 10 month high; Market Growth to a 15 month high; and Sales Growth to a 16 month high. The increasing momentum evident in January largely petered out in February. Data from the three biggest global growth drivers (China, the USA and India in order of importance) accounting in recent years for about 60% of global growth, reflects continuing but snail like progress.
The sales related indexes are not alone in pointing to a fragile February. The Staffing Index tells a similar story. This Index, having stayed well below the 50 "no growth" level since the arrival of Covid in early 2020 , has reflected a largely continuous fall in employment levels. The rate of decline has lessened in recent months, providing hope that at some point in the not too distant future the situation will improve. But the February figures show a further decline, with the index number remaining well below the 50 level, indicating a continuing decline in job opportunities.
The Profits Index reflects the same picture, falling again quite sharply in February to an Index value of 45.9, compared with 48.6 as recently as December.
One small element of better news. The Price index fell back in February from the uncomfortably high index figure of 53.7 recorded in January suggesting price inflation has not yet taken firm root , despite the endless stream of money creation taking place in virtually all major countries.
Global: Staffing Levels Index
► SUBSCRIBERS RECEIVE FULL DATA AND CHARTS.
► SUBSCRIBERS RECEIVE ALL DATA A DAY EARLIER THAN PRESS EMBARGO TIMINGS.